Upside case
Bull case
$454+55.2%
SYK would need investors to value it at roughly 30x earnings — about 11x more generous than today's 19x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Stryker Corporation (SYK) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
50
analysts
36 bullish · 0 bearish · 50 covering SYK
Strong Buy
1
Buy
35
Hold
14
Sell
0
Strong Sell
0
Consensus Target
$404
+38.1% vs today
Scenario Range
$294 – $454
Model bear to bull value window
Coverage
50
Published analyst ratings
Valuation Context
19.5x
Forward P/E · Market cap $112.0B
SYK price targets
Three scenarios for where SYK stock could go
Current
~$292
Confidence
78 / 100
Updated
May 1, 2026
Where we are now
Current · $292
Bear
$294
Base
$466
Bull
$454
Market caseClosest to today
Base case
$466+59.3%
At 31x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$294+0.7%
The bear case assumes sentiment or fundamentals disappoint enough to push SYK down roughly 1% from the current price.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Stryker Corporation
SYK · NYSEHealthcareMedical - DevicesDecember year-end
Stryker is a medical technology company that develops and sells surgical equipment, orthopedic implants, and neurotechnology devices. It generates revenue primarily through two segments: MedSurg and Neurotechnology (roughly 55% of sales) and Orthopaedics and Spine (roughly 45%), selling everything from joint replacement implants to surgical navigation systems. The company's competitive advantage lies in its broad product portfolio across multiple surgical specialties and its strong relationships with hospitals—creating switching costs through integrated systems and surgeon training.
Market Cap
$112.0B
Revenue TTM
$25.1B
Net Income TTM
$3.2B
Net Margin
12.9%
SYK Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
92%Exceptional
12 quarters tracked
Revenue Beat Rate
92%Exceptional
vs consensus estimates
Avg EPS Surprise
+2.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 2025
EPS
$3.13/$3.07
Revenue
$6.0B/$5.9B
Q4 2025
EPS
$3.19/$3.13
Revenue
$6.1B/$6.0B
Q1 2026
EPS
$4.47/$4.40
Revenue
$7.2B/$7.1B
Q2 2026
EPS
$2.60/$2.98
Revenue
$6.0B/$6.3B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $3.13/$3.07 | +2.0% | $6.0B/$5.9B | +1.4% |
| Q4 2025 | $3.19/$3.13 | +1.9% | $6.1B/$6.0B | +0.2% |
| Q1 2026 | $4.47/$4.40 | +1.6% | $7.2B/$7.1B | +0.7% |
| Q2 2026 | $2.60/$2.98 | -12.8% | $6.0B/$6.3B | -5.0% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$27.6B
+9.9% YoY
FY2
$30.5B
+10.3% YoY
EPS Outlook
FY1
$12.48
+48.6% YoY
FY2
$13.38
+7.2% YoY
Trailing FCF (TTM)$4.3B
FCF Margin: 17.1%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
SYK beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
SYK Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $25.1B
Product Mix
Latest annual revenue by segment or product family
MedSurg
62.3%
+15.7% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
EMEA
52.1%
+9.8% YoY
Tap, hover, or focus a slice to inspect segment detail.
MedSurg is the largest disclosed segment at 62.3% of FY 2025 revenue, up 15.7% YoY.
EMEA is the largest reported region at 52.1%, up 9.8% YoY.
SYK Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Slightly Overvalued
Fair value est. $278 — implies -5.6% from today's price.
Premium to Fair Value
5.6%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
SYK
34.8x
vs
S&P 500
25.2x
+38% premium
vs Healthcare Trailing P/E
SYK
34.8x
vs
Healthcare
22.1x
+57% premium
vs SYK 5Y Avg P/E
Today
34.8x
vs
5Y Average
43.1x
19% discount
Forward PE
19.5x
S&P 500
19.1x
+2%
Healthcare
19.0x
+2%
5Y Avg
—
—
Trailing PE
34.8x
S&P 500
25.2x
+38%
Healthcare
22.1x
+57%
5Y Avg
43.1x
-19%
PEG Ratio
2.34x
S&P 500
1.75x
+34%
Healthcare
1.52x
+54%
5Y Avg
—
—
EV/EBITDA
20.2x
S&P 500
15.3x
+32%
Healthcare
14.1x
+43%
5Y Avg
23.5x
-14%
Price/FCF
26.1x
S&P 500
21.3x
+23%
Healthcare
18.7x
+40%
5Y Avg
38.2x
-32%
Price/Sales
4.5x
S&P 500
3.1x
+42%
Healthcare
2.8x
+57%
5Y Avg
5.6x
-21%
Dividend Yield
1.15%
S&P 500
1.88%
-39%
Healthcare
1.40%
-18%
5Y Avg
0.98%
+18%
| Metric | SYK | S&P 500 | Healthcare | 5Y Avg SYK |
|---|---|---|---|---|
| Forward PE | 19.5x | 19.1x | 19.0x | — |
| Trailing PE | 34.8x | 25.2x+38% | 22.1x+57% | 43.1x-19% |
| PEG Ratio | 2.34x | 1.75x+34% | 1.52x+54% | — |
| EV/EBITDA | 20.2x | 15.3x+32% | 14.1x+43% | 23.5x-14% |
| Price/FCF | 26.1x | 21.3x+23% | 18.7x+40% | 38.2x-32% |
| Price/Sales | 4.5x | 3.1x+42% | 2.8x+57% | 5.6x-21% |
| Dividend Yield | 1.15% | 1.88% | 1.40% | 0.98% |
SYK trades above S&P 500 benchmarks on 5 of 6 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolSYK Financial Health
Verdict
Strong
SYK generates $4.3B in free cash flow at a 17.1% margin — 11.4% ROIC signals a durable competitive advantage · returns 1.1% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$25.1B
Revenue Growth
TTM vs prior year
+11.2%
Gross Margin
Gross profit as a share of revenue
63.5%
Operating Margin
Operating income divided by revenue
22.4%
Net Margin
Net income divided by revenue
12.9%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$8.40
Free Cash Flow (TTM)
Cash generation after capex
$4.3B
FCF Margin
FCF as share of revenue — the primary cash quality signal
17.1%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
11.4%
ROA
Return on assets, trailing twelve months
6.9%
Cash & Equivalents
Liquid assets on the balance sheet
$4.0B
Net Debt
Total debt minus cash
$10.8B
Debt Serviceability
Net debt as a multiple of annual free cash flow
2.5× FCF
~2.5 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
15.0%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
1.1%
Dividend
1.1%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$3.36
Payout Ratio
Share of earnings distributed as dividends
39.6%
Shares Outstanding
Current diluted share count
383M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageSYK Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Legal & Regulatory Risk
Stryker’s legal and regulatory exposure accounts for 31% of its identified risks. As of March 31 2025, the company had accrued $169 million for product‑liability claims related to hip products sold by Wright Medical Group N.V. prior to divestiture, and has voluntarily recalled products such as the Rejuvenate and ABG II Modular‑Neck hip stems. Ongoing litigation, tax liabilities, and government incentives could materially impact earnings.
High Risk
High Debt Burden
Stryker carries a high level of debt, increasing interest expense and limiting financial flexibility. Elevated leverage constrains capital allocation and exposes the company to refinancing risk if market conditions deteriorate.
High Risk
Cyberattack & Supply Disruption
A March 2026 cyberattack halted Stryker’s ability to process orders, manufacture products, and ship them globally. While operations have resumed and the company does not expect a material impact on its 2026 full‑year guidance, the incident highlighted potential revenue, operating‑income, and cash‑flow effects, and could damage reputation if repeated.
Medium
Inflation & Trade Risk
Rising manufacturing costs and weakening exchange rates could squeeze margins if price increases cannot be passed to customers. Inflation may also delay or reduce orders, and ongoing tariff and trade‑policy changes add uncertainty to Stryker’s operations.
Medium
Acquisition Overpayment
Overpaying for acquisitions has stalled growth targets and delayed cost integrations, leading to margin and cash‑flow squeezes. Poor rationalization of operations further strains profitability.
Medium
Distributor Dependence
Stryker relies on indirect distribution channels; insolvency or regulatory changes affecting major distributors could limit product availability and expose the company to competitive product substitution.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why SYK Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Robust Revenue Growth & Scale
Stryker posted an 11% year‑over‑year revenue increase in 2023, reaching $20.50 billion. The company is on track for high single‑digit sales growth in 2024, and its 12‑month revenue through December 31 2025 rose 11.16% YoY to $25.116 billion.
Mako Robotic Surgery Dominance
The Mako platform has an installed base of more than 3,000 systems worldwide, and two‑thirds of U.S. knee procedures are now performed robotically. This strong adoption drives significant volume and margin expansion.
Innovation & Patent Leadership
Stryker’s commitment to R&D is reflected in substantial expenditure and a broad patent portfolio, securing its competitive edge across Orthopaedics & Spine and MedSurg & Neurotechnology segments.
Strategic Digital Health Expansion
The acquisition of Vocera, a digital health pioneer, expands Stryker’s capabilities in high‑potential digital health, positioning the company for long‑term growth.
Operational Efficiency & Margin Upside
Stryker has consistently improved its operating margin, exceeding consensus expectations, and maintains strong profitability through efficient cost management and pricing power.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
SYK Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$292.33
52W Range Position
2%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$289.91
+0.8% from the low
52-Week High
$404.87
-27.8% from the high
1 Month
-12.03%
3 Month
-18.41%
YTD
-16.0%
1 Year
-22.6%
3Y CAGR
+0.5%
5Y CAGR
+2.8%
10Y CAGR
+10.1%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
SYK vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
19.5x
vs 14.1x median
+39% above peer median
Revenue Growth
+9.9%
vs +3.8% median
+159% above peer median
Net Margin
12.9%
vs 13.0% median
-1% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
SYK SYK Stryker Corporation | $112.0B | 19.5x | +9.9% | 12.9% | Buy | +38.1% |
ZBH ZBH Zimmer Biomet Holdings, Inc. | $16.2B | 9.8x | +3.8% | 9.1% | Hold | +18.2% |
BSX BSX Boston Scientific Corporation | $83.2B | 16.6x | +12.8% | 14.4% | Buy | +63.1% |
EW EW Edwards Lifesciences Corporation | $48.0B | 27.7x | +9.9% | 17.6% | Buy | +16.0% |
BDX BDX Becton, Dickinson and Company | $52.4B | 11.6x | +2.3% | 8.0% | Buy | +19.4% |
MDT MDT Medtronic plc | $99.5B | 14.1x | +2.5% | 13.0% | Buy | +41.1% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
SYK Dividend and Capital Return
SYK returns 1.1% total yield, led by a 1.14% dividend, raised 34 consecutive years.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
1.1%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
1.14%
Payout Ratio
39.6%
How SYK Splits Its Return
Div 1.14%
Dividend 1.14%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$3.36
Growth Streak
Consecutive years of dividend increases
34Y
3Y Div CAGR
6.2%
5Y Div CAGR
7.6%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
383M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.88 | — | — | — |
| 2025 | $3.40 | +4.9% | 0.0% | 1.0% |
| 2024 | $3.24 | +6.2% | 0.1% | 1.0% |
| 2023 | $3.05 | +7.6% | 0.1% | 1.1% |
| 2022 | $2.83 | +9.7% | 0.1% | 1.3% |
FAQ
7 questionsSYK Investor Questions
Common questions answered from live analyst data and company financials.
01Is Stryker Corporation (SYK) stock a buy or sell in 2026?
Stryker Corporation (SYK) is rated Buy by Wall Street analysts as of 2026. Of 50 analysts covering the stock, 36 rate it Buy or Strong Buy, 14 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $404, implying +38.1% from the current price of $292. The bear case scenario is $294 and the bull case is $454.
02What is the SYK stock price target for 2026?
The Wall Street consensus price target for SYK is $404 based on 50 analyst estimates. The high-end target is $469 (+60.4% from today), and the low-end target is $315 (+7.8%). The base case model target is $466.
03Is Stryker Corporation (SYK) stock overvalued in 2026?
SYK trades at 19.5x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals slightly overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Stryker Corporation (SYK) stock in 2026?
The primary risks for SYK in 2026 are: (1) Legal & Regulatory Risk — Stryker’s legal and regulatory exposure accounts for 31% of its identified risks. (2) High Debt Burden — Stryker carries a high level of debt, increasing interest expense and limiting financial flexibility. (3) Cyberattack & Supply Disruption — A March 2026 cyberattack halted Stryker’s ability to process orders, manufacture products, and ship them globally. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Stryker Corporation's revenue and earnings forecast?
Analyst consensus estimates SYK will report consensus revenue of $27.6B (+9.9% year-over-year) and EPS of $12.48 (+48.6% year-over-year) for the upcoming fiscal year. The following year, analysts project $30.5B in revenue.
06When does Stryker Corporation (SYK) report its next earnings?
A confirmed upcoming earnings date for SYK is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Stryker Corporation generate?
Stryker Corporation (SYK) generated $4.3B in free cash flow over the trailing twelve months — a free cash flow margin of 17.1%. SYK returns capital to shareholders through dividends (1.1% yield) and share repurchases ($0 TTM).